Shemaroo Entertainment Limited has released the transcript of its earnings conference call for the quarter and financial year ended March 31, 2026 (Q4-FY26/FY26). The call was held on Monday, May 18, 2026, at 12:00 PM (IST). The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transcript Availability

The text transcript of the earnings call has been uploaded to the company's official website. Investors can access the document through the provided weblink titled "SHEMAROO - Transcript of Earning Conference Call dated March 31, 2026.pdf".

Regulatory Filing

The filing was communicated to the National Stock Exchange of India Limited and BSE Limited. It was signed by Meenakshi A. Pansari, Company Secretary & Compliance Officer (ICSI Membership No. A53927), on May 21, 2026. The company's ISIN is INE363M01019.

Shemaroo Entertainment Limited reported a consolidated net loss of ₹21,861.58 lakhs for the year ended March 31, 2026, a significant widening from the net loss of ₹8,495.91 lakhs in the previous year. Revenue from operations declined 14.9% year-on-year to ₹58,306.24 lakhs from ₹68,510.19 lakhs in FY25. Total expenses for the year rose to ₹88,394.91 lakhs from ₹80,788.43 lakhs in the prior year, further pressuring profitability. The Board of Directors approved the audited financial results at its meeting held on May 16, 2026. Pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company subsequently published the audited financial results in Financial Express – All Editions (English Newspaper) and Mumbai Lakshadeep – Mumbai Edition (Marathi Newspaper) on May 18, 2026. Alongside the financial results, the board also announced key managerial changes, including a transition in the Chief Financial Officer role.

Consolidated Financial Performance

The financial performance was primarily impacted by a steep rise in operational costs, which climbed to ₹66,757.80 lakhs in FY26 from ₹57,915.43 lakhs in FY25, even as revenues contracted. Finance costs for the year stood at ₹3,009.44 lakhs, while employee benefits expense was ₹13,026.50 lakhs. The loss before tax on a consolidated basis widened to ₹29,474.02 lakhs from ₹11,434.59 lakhs in the prior year. The digital media business demonstrated continued momentum, with the digital business now accounting for 47% of the company's revenue mix, up from 20% pre-2018. The decline in traditional media revenue was attributed to a weak advertising environment, geopolitical tensions, and the lumpy nature of syndication revenues.

The following table presents the consolidated financial highlights for the reported periods:

Standalone Financial Performance

On a standalone basis, Shemaroo Entertainment reported revenue from operations of ₹54,731.37 lakhs for FY26, compared to ₹65,048.93 lakhs in FY25. The standalone loss before tax for the year was ₹29,913.40 lakhs, and the net loss after tax stood at ₹22,161.07 lakhs, against a net loss of ₹8,749.61 lakhs in the previous year. The total comprehensive loss on a standalone basis was ₹22,247.69 lakhs for FY26.

The following table presents the standalone financial highlights:

Operational Highlights and Balance Sheet Position

Margins remained under pressure due to accelerated inventory charge-offs, a strategic initiative undertaken nine quarters ago. This marked the final quarter of such charge-offs, resulting in a net reduction of inventory to approximately ₹400 crore over that period. These charge-offs are accounting adjustments with no effect on content monetization or free cash flows. On a consolidated basis, inventories declined to ₹33,906.57 lakhs as at March 31, 2026, from ₹56,834.94 lakhs in the prior year. Total consolidated assets stood at ₹68,578.04 lakhs as at March 31, 2026, compared to ₹86,608.98 lakhs in the previous year. During the year, the company allotted 14,10,000 equity shares of face value ₹10 each, fully paid up at an issue price of ₹110 per share (including Securities Premium of ₹100), aggregating to ₹1,551 lakhs, on a preferential basis to the Promoters/Promoter Group, towards the appropriation of existing unsecured debt owed to the allottees.

During Q4 FY26, the ShemarooMe subscriber base grew more than 30% YoY. Shemaroo FilmiGaane surpassed 74 million subscribers, while Shemaroo Ent crossed 61 million subscribers. The company garnered over 9.0 billion views during the quarter across its portfolio channels. Content initiatives included the world digital premiere of Gujarati movies such as 'Chaniya Toli' and 'Naankhatai', the premiere of the first Hindi original web series 'Dil Dhokha aur Desire', and the co-production of its first Turkish drama series, 'Aska Mahkum'.

Key Managerial and Corporate Developments

The board approved several significant corporate actions at its May 16, 2026 meeting. On the managerial front, Mr. Amit Haria tendered his resignation from the position of Chief Financial Officer (Key Managerial Personnel) with effect from the close of business hours on May 21, 2026, to pursue professional opportunities in consultancy and entrepreneurship. He confirmed there are no other material reasons for his resignation. Consequent to this, the board approved the appointment of Mr. Ashish Gupta as Chief Financial Officer (Key Managerial Personnel) with effect from May 22, 2026. Mr. Gupta is a Chartered Accountant with 24 years of diverse, global experience in financial management, business partnership, process improvements, and working capital optimization, having previously served as CFO for BARC India and in leadership roles at International SOS across India, Hong Kong, and Singapore.

The following table summarises the key corporate actions approved at the board meeting:

The statutory auditors, M/s Mukund M. Chitale & Co., have issued audit reports with an unmodified opinion on both the standalone and consolidated financial results for the year ended March 31, 2026. The auditors have drawn attention to a GST demand order received from the GST department in an earlier year for recovery of inadmissible Input Tax Credit allegedly amounting to ₹7,025.61 lakhs, along with alleged interest and penalty. The company's writ petition before the Hon'ble Bombay High Court has been stayed, with the court directing that no further action be taken by the department with respect to the impugned orders. The matter has subsequently been referred to the Larger Bench for consideration.